Quiz Chapter 9 Acc 156
Quiz Chapter 9
Name_________________________________
Question 1
At age 65, Camilla retires from her job in Boston and moves to Florida. As a retiree, she is not subject to the time test in deducting her moving expenses.
True
False
1 points
Question 2
A taxpayer who lives and works in Tulsa travels to Buffalo for five days. If three days are spent on business and two days are spent on visiting relatives, only 60% of the airfare is deductible.
True
False
1 points
Question 3
Jake performs services for Maude. If Jake provides his own helper and tools, this is indicative of independent contractor (rather than employee) status.
True
False
1 points
Question 4
For self-employed taxpayers, travel expenses are not subject to the 2%-of-AGI floor.
True
False
1 points
Question 5
A taxpayer who claims the standard deduction will not be able to claim an office in the home deduction.
True
False
1 points
Question 6
As Christmas presents, Lily sends gift certificates (each valued at $25) to Caden (a key client) and to each of his two minor children. Lily can deduct $75 (3 ´ $25) as to these gifts.
True
False
1 points
Question 7
The work-related expenses of an independent contractor will not be subject to the 2%-of-AGI floor.
True
False
1 points
Question 8
Tired of her 60 mile daily commute, Margaret purchases a condo that is only five miles from her job. Margaret’s moving expenses to her new condo are allowed and can be claimed by her as a deduction.
True
False
1 points
Question 9
In the case of an office in the home deduction, the exclusive business use test does not apply when the home is used as a daycare center.
True
False
1 points
Question 10
Alexis (a CPA and JD) sold her public accounting practice in Des Moines and accepted a job with the Seattle office of a national accounting firm. Her moving expenses are not deductible because she has changed employment status (i.e., went from self-employed to employee).
True
False
Name_________________________________
Question 1
At age 65, Camilla retires from her job in Boston and moves to Florida. As a retiree, she is not subject to the time test in deducting her moving expenses.
True
False
1 points
Question 2
A taxpayer who lives and works in Tulsa travels to Buffalo for five days. If three days are spent on business and two days are spent on visiting relatives, only 60% of the airfare is deductible.
True
False
1 points
Question 3
Jake performs services for Maude. If Jake provides his own helper and tools, this is indicative of independent contractor (rather than employee) status.
True
False
1 points
Question 4
For self-employed taxpayers, travel expenses are not subject to the 2%-of-AGI floor.
True
False
1 points
Question 5
A taxpayer who claims the standard deduction will not be able to claim an office in the home deduction.
True
False
1 points
Question 6
As Christmas presents, Lily sends gift certificates (each valued at $25) to Caden (a key client) and to each of his two minor children. Lily can deduct $75 (3 ´ $25) as to these gifts.
True
False
1 points
Question 7
The work-related expenses of an independent contractor will not be subject to the 2%-of-AGI floor.
True
False
1 points
Question 8
Tired of her 60 mile daily commute, Margaret purchases a condo that is only five miles from her job. Margaret’s moving expenses to her new condo are allowed and can be claimed by her as a deduction.
True
False
1 points
Question 9
In the case of an office in the home deduction, the exclusive business use test does not apply when the home is used as a daycare center.
True
False
1 points
Question 10
Alexis (a CPA and JD) sold her public accounting practice in Des Moines and accepted a job with the Seattle office of a national accounting firm. Her moving expenses are not deductible because she has changed employment status (i.e., went from self-employed to employee).
True
False